Lake-Adjacent Apartment
For Sale
$4,900,000
50 Northshore Rd, Lake Oswego, OR 97034
Multifamily community with varied studio, one-bedroom, and townhome layouts.
Property Size14,689 SF
Days on Market8
Property Features for 50 Northshore Rd
General Information
Standard status
Active
Size
14,689 SF
Total Parking Spaces
25
Property subtype
Multifamily
Occupancy
95%
Units
Unit Mix
16 x studio, 6 x 1BR, 1 x 2BR townhome, 2 x 3BR townhome
Multifamily Units
25
Additional Details
Cap Rate
5.6%
Public Transit
Yes
Amenities
central courtyard
common laundry facilities
rented storage units
washer and dryer hookups
LAKE ADJACENT ASSET - 25-Unit Apartment Community Built in 1955 Adjacent to Lake Oswego
RARE ACQUISITION OPPORTUNITY - Seldom-Available Multifamily Investment Adjacent to Lake Oswego
EXCEPTIONAL WALKABILITY - Steps from Dining, Shopping, Entertainment, Parks, and Community Amenities
TRANSIT ACCESSIBILITY - Convenient Public Transportation Access Serving the Portland Metropolitan Area
RENT GROWTH POTENTIAL - Approximately 10% Upside through Continued Revenue Optimization
UTILITY REIMBURSEMENT PROGRAM RUBS - Program Already in Place Supporting Expense Recovery
Building Details
Building Size
14,689 SF
Year Built
1955
Units
25
Listing Agency:
Portland Office
(503) 200-2073
Listed By:
Chandler Miller · License #License(s): OR: 201238624
(503) 200-2073
Source:
Marcusmillichap
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 19 at 4:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Portland Office
Investment Insights
Based on property information with market context.
This 25-unit apartment community, constructed in 1955, includes 16 studios, six one-bedroom apartments, one two-bedroom townhome, and two three-bedroom townhomes. Property amenities include a central courtyard, common laundry facilities, rented storage units, and select residences with washer and dryer hookups. The site also provides 25 surface parking spaces.
The property sits directly beside Lake Oswego and is near downtown Lake Oswego restaurants, cafés, boutiques, neighborhood retailers, parks, entertainment venues, and community gathering spaces. Public transportation is readily accessible, with connections to downtown Portland and regional employment centers.
A RUBS program is already in place for utility expense recovery. Current rental rates provide approximately 10% upside potential, as stated in the property information.
The property sits directly beside Lake Oswego and is near downtown Lake Oswego restaurants, cafés, boutiques, neighborhood retailers, parks, entertainment venues, and community gathering spaces. Public transportation is readily accessible, with connections to downtown Portland and regional employment centers.
A RUBS program is already in place for utility expense recovery. Current rental rates provide approximately 10% upside potential, as stated in the property information.
Key Highlights
- 25‑unit apartment community constructed in 1955
- Unit mix includes 16 studios, six one‑bedroom units, one two‑bedroom townhome, and two three‑bedroom townhomes
- Directly adjacent to the shores of Lake Oswego
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$188,606
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,772,120
$3.8M
Cap Rate 7%
$2,694,371
$2.7M
Cap Rate 9%
$2,095,622
$2.1M
Market Conditions
NOI Build-Up for 14,689 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$361.3K $24.60/SF
− Vacancy
−$18.4K −$1.25/SF
EGI
$342.9K $23.35/SF
− OpEx
−$154.3K −$10.51/SF
NOI
$188.6K $12.84/SF
Area
Clackamas County, OR
Vacancy
5.10%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,772,120
Cap Rate 7%
$2,694,371
Cap Rate 9%
$2,095,622
Alternative Uses
Best Use
Apartment 5plus
$2.69M
$2.36M – $3.14M
NOI $188,606 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.96M
$3.47M – $4.63M
NOI $277,545 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25
Residential units
Location Intelligence
Trade Area within ½ mile
1,528
Businesses Nearby
Explore this area
Business Placement
Demographics for 97034, OR
21,396
Population
9,017
Households
2.4
Avg Household Size
49
Median Age
74%
College-Educated
99%
High-School Grad
7.7 sq mi
ZIP Area
2,779
Density / Sq Mi
$147,688
Median Household Income
$77,500
Median Earnings
$2,030
Median Rent
$995,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily community with varied studio, one-bedroom, and townhome layouts.
Where is this apartment building located?
The property is located at 50 Northshore Rd Lake Oswego, OR.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 25‑unit apartment community constructed in 1955; Unit mix includes 16 studios, six one‑bedroom units, one two‑bedroom townhome, and two three‑bedroom townhomes; Directly adjacent to the shores of Lake Oswego
